Lets see, I've done several Model 700 Barrels.
Strip the rifle.
Strip the boat.
Remove old barrel
True up the face of the reciever
Lap the bolt lugs
Insert the stipped bolt, measure the face of the bolt to the face of the reciever.
Stick the new barrel blank into the lathe.
If not already contoured, couture the barrel to suit you
Find the barrel shank dimensions, and cut the shank.
Thread the barrel shank.
Insert the barrel shank into the action to check for fit. Adjust if necessary.
Chuck the barrel into the preferrerably between centers. Use a steady rest instead of the chuck if possible. (This allows the chamber to fit the bore and not the outside of the barrel)
Take the measurement you got above and add .004 (crush fit).
Chamber the barrel to match, meaning the "go" head space gage sticks out of the chamber using that measurement.
Install the barrel, check to see the bolt closes on the Go gage, Check to make sure it doesnt close on the No Go gage.
Polish the action and barrel. Polish all the other parts. Toss the barrel and all other parts in the blueing tank.
Clean/oil and put the rifle back together. Again test with the go and no go gages. Test fire the rifle with factory ammo. Test the spent case to see if it fits a case gage.
Mount the Scope, take to the range and sight it in. If you used a good barrel, sighting the rifle in is all the "break in" you need.
Thats the short of it, (though I just wipped that out, so I probably skipped a step or two, maybe got them out of order.
But you get the point. Yeap its easy.
Of course I have thousands of dollars worth of machinery and tooling.
It would be a lot simpler and cheaper to take it to a good gun smith and tell him to re-barrel your rifle.
Edit: Told you I would forget something. The Model 700 barrel shank is has a cut for the bolt to start in the barrel a tad. The barrel shank isnt flush like other rifles.